Message-ID: <5538012.1075842090427.JavaMail.evans@thyme> Date: Fri, 12 May 2000 07:47:00 -0700 (PDT) From: carol.clair@enron.com To: adele.raspe2@pseg.com, maria.salvatore@pseg.com Subject: Guaranty Cap Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit X-From: Carol St Clair X-To: adele.raspe2@pseg.com, maria.salvatore@pseg.com X-cc: X-bcc: X-Folder: \Carol_StClair_Dec2000_1\Notes Folders\All documents X-Origin: STCLAIR-C X-FileName: cstclai.nsf Adele: Tanya left a message for Cindy and offerred $10M as a cap for each Guaranty. The reason for the cushion is to protect the party who terminates at a time when its exposure is close to the credit threshold and by the time that the date is set and the amount is calculated there is a move in the market that results in its exposure being above the threshold. Carol